The MVRV (Market Value-Realized Value) Z-Score measures the value of the bitcoin network by comparing the market cap to the realized value and dividing by the standard deviation of the market cap (market cap – realized cap) / std(market cap)).
When the market value is significantly higher than the realized value, the bitcoin network is "overvalued". Very high values have signaled cycle tops in the past and low values have signaled bottoms.
The Puell multiple is the ratio between the daily coin issuance in USD and its 365-day moving average. This multiple helps to measure miner profitability.
The PUELL indicator smooths the Puell multiple using a 14-day simple moving average. When the PUELL goes to high values relative to historical values, it indicates the profitability of the miners is high and a top may be near.
When the PUELL is low relative to historical values, it indicates the profitability of the minors is low and a bottom may be near.
The MVRV (Market Value-Realized Value) Z-Score measures the value of the bitcoin network by comparing the market cap to the realized value and dividing by the standard deviation of the market cap (market cap – realized cap) / std(market cap)).
When the market value is significantly higher than the realized value, the bitcoin network is "overvalued". Very high values have signaled cycle tops in the past and low values have signaled bottoms.
The Puell multiple is the ratio between the daily coin issuance in USD and its 365-day moving average. This multiple helps to measure miner profitability.
The PUELL indicator smooths the Puell multiple using a 14-day simple moving average. When the PUELL goes to high values relative to historical values, it indicates the profitability of the miners is high and a top may be near.
When the PUELL is low relative to historical values, it indicates the profitability of the minors is low and a bottom may be near.
本着真正的TradingView精神,此脚本的作者已将其开源,以便交易者可以理解和验证它。向作者致敬!您可以免费使用它,但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。